Granules India’s shares rose nearly 7 percent on Wednesday, a day after the company reported a nearly three-fold increase in net profit to Rs 135 crore in the June quarter. The stock rallied 6.73 percent to trade at Rs 627.35 apiece on the BSE and 6.39 percent to trade at Rs 626.60 per share on the NSE.
In intra-day trading, Granules India’s shares hit a 52-week high of Rs 631.15 and Rs 631.30 apiece on the BSE and NSE, respectively. The BSE Sensex benchmark increased 207.46 points or 0.25 percent to 81,662.86, while NSE Nifty rose 72.80 points to 24,930.10 on Wednesday.
According to an exchange filing on Tuesday, Granules India’s Profit After Tax (PAT) surged nearly three-fold year-on-year to Rs 135 crore for the quarter ended June 30, 2024.
The pharmaceutical company had reported a PAT of Rs 48 crore in the April-June quarter of the previous fiscal year. Furthermore, the firm stated that revenue from operations rose to Rs 1,180 crore for the period under review from Rs 985 crore in the year-ago period. Granules India is based in Hyderabad.